US-CANADA TARIFF SHIFT TRIGGERS VOLATILITY IN HRC FUTURES

How Canadian Tariff Cuts Are Repricing the HRC Curve

Just as the steel market felt stuck on repeat, reports that the US is set to halve tariffs on Canadian steel and aluminum sent a quick jolt through CME Midwest HRC futures – acting as a sudden release valve on months of built-up scarcity premium. While the front end of the curve sold off sharply, lingering uncertainty around final deal terms, upcoming fall outages, and potential domino effects in Mexico mean this market is far from settled.